[Marxism] Are pay cuts a solution to the crisis?

Louis Thiemann kiwiza at gmail.com
Mon Mar 5 08:58:01 MST 2012

Tristan said:

But would not increasing exploitation lower the cost of goods?

That depends. In the current crisis, it looks to me as though worker
paycuts are a means to limit the decrease in profit, and the resulting
decrease in dividends and manager salaries.

An increase in the rate of exploitation may be absorbed before it can again
reach the working population in the form of cheaper products. Otherwise it
would, strictly speaking, not be an increase in the rate of exploitation.

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